Expenses more than income is called "Loss" Income over expenses called "Profit"
expenses
Positive Operating income will result if gross profit exceeds operating expenses
If a firm's sales revenue exceeds its expenses, the firm has earned a profit.
Yes revenues and expenses are part of income statement and difference between revenue and expenses is called net income or loss.
Expenses more than income is called "Loss" Income over expenses called "Profit"
The difference, on a yearly basis, between the budget (expenses) for the federal government of the United States and revenues (income). When the expenses are more than the income, the difference is called the deficit. When the income is more than the expenses, the difference is called a surplus.
The difference, on a yearly basis, between the budget (expenses) for the federal government of the United States and revenues (income). When the expenses are more than the income, the difference is called the deficit. When the income is more than the expenses, the difference is called a surplus.
expenses
Positive Operating income will result if gross profit exceeds operating expenses
If a firm's sales revenue exceeds its expenses, the firm has earned a profit.
Yes revenues and expenses are part of income statement and difference between revenue and expenses is called net income or loss.
Net income
The amount by which revenue exceeds expenses. If expenses exceed revenue it is a net loss.
It means that the income exceeds the expenses in the year. It's a good thing!
Revenues are earnings from sales of products and net income is the difference between revenues and expenses.
Profit and loss is nothing but an statements which shows the net profit and net loss during a period.